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Sunday 8 November 2026
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PicS N.V.
PICSTechnology Software Infrastructure
PicS N.V.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 78.2% from fiscal 2024.
- Revenue
- +87.2%
- EPS
- −99.6%
- Free cash flow
- +552.3%
Quarter to June 2026, against a year earlier
6.86
0.23
−3.24%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | 1,033 | 1,841 | 2,535 | +78.2% | 2,858 | 3,974 | 4,597 | +35.7% | |
| Gross margin, % | — | — | — | — | — | — | — | — | 65.31 | 59.23 | 58.94 | (6.1) pt | ||||||
| EBT | — | — | — | — | — | — | — | — | 64 | 57 | 120 | (11.4%) | ||||||
| EBT margin, % | — | — | — | — | — | — | — | — | 6.21 | 3.09 | 4.74 | (3.1) pt | ||||||
| Net income | — | — | — | — | — | — | — | — | 47 | 204 | 251 | +338.0% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | — | 5,163.53 | 9,203.79 | 20.11 | +78.2% | |||||
| Earnings | — | — | — | — | — | — | — | — | 233.41 | 1,022.31 | 841.70 | +338.0% | ||||||
| Cash flow | — | — | — | — | — | — | — | — | 2,123.33 | (3,348.58) | (0.76) | n/m | ||||||
| Capex | — | — | — | — | — | — | — | — | (539.56) | (612.83) | (1.06) | +13.6% | ||||||
| Free cash flow | — | — | — | — | — | — | — | — | 1,583.77 | (3,961.41) | (1.82) | n/m | ||||||
| Book value | — | — | — | — | — | — | — | — | 1,635.10 | 3,483.42 | 9.91 | +113.0% | ||||||
| Shares, m | — | — | — | — | — | — | — | — | 0 | 0 | 62 | 0.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | 0.02 | 0.02 | 0.01 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.34 | 0.0 | ||||||
| P/B | — | — | — | — | — | — | — | — | 0.01 | 0.01 | 0.69 | 0.0 | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | (0.38) | (0.38) | (0.17) | (0.4) | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | 0.88 | 0.88 | 1.88 | 0.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | — | 425 | (670) | (96) | n/m | |||||
| Capex | — | — | — | — | — | — | — | — | (108) | (123) | (134) | +13.6% | ||||||
| Free cash flow | — | — | — | — | — | — | — | — | 317 | (792) | (230) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | — | 3,315 | 4,551 | 6,737 | +37.3% | |||||
| Net debt | — | — | — | — | — | — | — | — | (1,404) | (705) | (1,297) | (49.8%) | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | — | 327 | 697 | 1,249 | +113.0% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | — | 0.00 | 3.11 | 3.02 | +3.1 pt | |||||
| ROIC | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | — | — | — | — | — | 0.00 | 38.19 | 29.10 | +38.2 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 4,202 | 4,644 | — | +10.5% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | — | 0.25 | 0.40 | — | +61.3% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
PicS N.V. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| BAND Bandwidth Inc. | $1.2B | 152× | 111× | +21.95% (above 0%: growing) | n/m | +151.09% (above 0%: growing) | 36.24% | 0.77% | Compare |
| RPD Rapid7, Inc. | $1.0B | 68.9× | 39.9× | −2.55% (below 0%: shrinking) | −65.40% (below 0%: shrinking) | −14.24% (below 0%: shrinking) | 69.61% | 4.21% | Compare |
| PICS PicS N.V. | $918.8M | 0.0× | 4.7× | +87.20% (above 0%: growing) | −99.60% (below 0%: shrinking) | +552.34% (above 0%: growing) | 58.88% | 0.00% | |
| TUYA Tuya Inc. Sponsored ADR | $885.1M | 14.6× | 14.6× | +15.98% (above 0%: growing) | +50.00% (above 0%: growing) | −58.87% (below 0%: shrinking) | 46.32% | 10.02% | Compare |
| KPLT Katapult Holdings, Inc. | $837.5M | 7.9× | — (loss-making) | +4.00% (above 0%: growing) | n/m | +6.44% (above 0%: growing) | 15.39% | (2.58%) | Compare |
| PAYS Paysign, Inc. | $808.5M | 52.6× | 42.6× | +48.08% (above 0%: growing) | +300.00% (above 0%: growing) | −108.06% (below 0%: shrinking) | 63.35% | 24.82% | Compare |
| OSPN ONESPAN INC | $808.0M | 11.6× | 22.3× | +11.97% (above 0%: growing) | +23.59% (above 0%: growing) | +51.53% (above 0%: growing) | 76.29% | 14.47% | Compare |
| YEXT Yext | $757.0M | 33.0× | 18.0× | −1.76% (below 0%: shrinking) | −40.91% (below 0%: shrinking) | −1.86% (below 0%: shrinking) | 75.46% | 15.81% | Compare |
| XNDU Xanadu Quantum Technologies Limited | $724.5M | — (loss-making) | — | — | n/m | — | 91.53% | (1,984.84%) | Compare |
| Median of peers | $823.0M | 33.0× | 31.1× | +11.97% | +23.59% | −1.86% | 66.48% | 7.11% |